Estate, Gift and Inheritance Tax Strategies
A focus on planning for estate, gift and inheritance taxes can potentially save significant dollars for many privately-held business owners and other high-net-worth taxpayers. Wealth preservation strategies are often built around a foundation of asset valuation. At Grossman Yanak & Ford LLP, we work with the region’s best estate planning professionals. Our work often involves valuation of privately-held business interests, with an emphasis on valuation adjustments reflecting premiums and discounts for control and marketability issues.
Our professionals have extensive experience in preparing valuations for family limited partnerships (FLPs), S corporation recapitalizations and ownership sales to irrevocable trusts in exchange for long-term annuity payment streams. Such sophisticated devices can be used advantageously by many individuals. The keystone for each strategy is very often a defendable valuation.
We have prepared many valuations for estate, gift and inheritance tax purposes and have successfully defended our reports under tax authority audit. Our valuators have also successfully navigated through the Internal Revenue Service Appeals division, with little or no adjustment to values contained within our reports.
All reports are prepared to meet the Treasury Department’s “adequate disclosure” regulations and “qualified appraiser” rules. Similar reports have been prepared by our professionals on numerous occasions to assist legal counsel with the appropriate compliance requirements for decedents’ estates.